CNET: Malicious virus writers are attempting to lure people to malicious
blogs using enticing e-mails and instant messages, according to a new
report from Websense. Once a person arrives at the blog, which can be
posted on a legitimate host site, the victim’s computer becomes
infected with software designed to steal sensitive information, such as
passwords and bank account information.

But blog readers can relax for the moment. The report claims that at present there are about 210 active bogus blogs. In a blogosphere of about 9-10m sites, that’s about 0.002%. I’d say that’s a pretty negligible risk.